Press release | RL360 buys FPIL

20th July 2017

The Author: David Cooper
Financial strategist, investment adviser and Sales Director for United Advisers

Aviva has announced the sale of Friends Provident International Limited (FPIL) to RL360 Holding Company Limited. RL360 is a subsidiary of International Financial Group Limited (IFGL).

Aviva has concluded that the business

is not central to the group’s strategy to focus on a small number of markets where it has scale and profitability or a distinct competitive advantage

It is important to note that FPIL will continue to serve customers, partners and intermediaries as usual. There is no change to customers’ policies. RL360 has been touted as a good match for IFGL and should bring an”unsettling” period for the company to an end .

Once the transaction is complete it will help to establish RL360’s position as the pre-eminent insitution in the offshore savings market. The acquisition is an important milestone for RL360 and will create a combined Embedded Value of over £1bn.

The transaction is subject to customary regulatory approvals and is expected to complete in early 2018.

Who is RL360?

RL360 Holding Company Limited is a subsidiary of International Financial Group Limited who have more than £8bn in assets under management and employ more than 300 staff.

If you wish to read the full press release you can do so here.